Trump breaks heavy news! The reason for Bitcoin's sharp correction to 90,800 has been found, and a large number of whales have awakened...

On Wednesday (November 27th), Bitcoin sharply corrected to around 92,300 USD. On-chain data from the institution CryptoQuant found that long-term Bitcoin holders sold more than 728,000 Bitcoins in the past 30 days. This sell-off represents a reversal of the whales' purchase of hundreds of thousands of Bitcoins in October. Insiders revealed that President-elect Donald Trump may transfer cryptocurrency regulatory authority to the Commodity Futures Trading Commission (CFTC), weakening the functions of the Securities and Exchange Commission (SEC).

This significant sell-off coincides with a comprehensive rebound in the cryptocurrency market. Previously, Trump was elected president and strongly supported the blockchain industry during his campaign. In particular, Bitcoin's price soared, reaching an all-time high, just a few dollars short of 100,000 USD.

TradingView data shows that Bitcoin's dominance (Bitcoin Dominance, which measures its share in the entire cryptocurrency market capitalization) is currently about 58%, down from a recent high of over 60%.

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